Hood River Capital Management LLC Takes Position in BlackBerry Limited (NYSE:BB)

Hood River Capital Management LLC bought a new stake in shares of BlackBerry Limited (NYSE:BB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,091,726 shares of the company's stock, valued at approximately $53,267,000. Hood River Capital Management LLC owned about 2.38% of BlackBerry as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in shares of BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock valued at $37,000 after purchasing an additional 3,811 shares in the last quarter. Masso Torrence Wealth Management Inc. purchased a new position in shares of BlackBerry in the fourth quarter worth $38,000. Mindset Wealth Management LLC acquired a new stake in shares of BlackBerry during the fourth quarter worth $38,000. Quadrant Capital Group LLC raised its stake in BlackBerry by 100.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock worth $38,000 after acquiring an additional 5,008 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in BlackBerry in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 54.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com upgraded BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Royal Bank of Canada set a $3.75 target price on BlackBerry in a research report on Thursday, April 3rd. CIBC cut their price objective on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a report on Thursday, April 3rd. Finally, Canaccord Genuity Group lowered their price target on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BlackBerry currently has an average rating of "Hold" and an average target price of $4.12.

BlackBerry Trading Up 2.4 %

Shares of BlackBerry stock opened at $3.17 on Wednesday. The company has a fifty day simple moving average of $4.19 and a 200-day simple moving average of $3.58. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -14.39 and a beta of 1.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a 12-month low of $2.01 and a 12-month high of $6.24.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The firm had revenue of $141.70 million during the quarter, compared to analysts' expectations of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. BlackBerry's quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. On average, equities analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Activity

In other BlackBerry news, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $4.19, for a total value of $102,340.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction on Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the sale, the senior vice president now directly owns 42,398 shares of the company's stock, valued at approximately $126,770.02. This represents a 41.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,641 shares of company stock valued at $214,365 over the last quarter. Corporate insiders own 0.34% of the company's stock.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.

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